‘Bullet Line’ May Disrupt Plans for Cook Inlet Drilling

State legislators have largely been enthusiastic about a report they asked for that indicates it would be possible for the state to finance a so-called “bullet line” to deliver North Slope natural gas to the Interior and South Central parts of the state, where gas wells are playing out.

But State Senator Tom Wagoner of Kenai points to growing signs of renewed industry interest in Cook Inlet, and urges caution. He is concerned about discouraging the investment climate.  Wagoner is the author of a tax credit bill that is designed to pay for the first wells drilled from a jack-up rig capable or reaching the deeper waters of Cook Inlet. Two companies are actively preparing to bring rigs to the state.

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